In 2024, global wealth saw an increase of 4.6%, building on a 4.2% rise in the previous year. The Americas contributed significantly to this growth, with North America leading the charge due to a stable US dollar and robust financial markets. Other regions like Asia-Pacific (APAC) and Europe, the Middle East and Africa (EMEA) experienced slower growth rates below 3% and less than 0.5%, respectively.
The Global Wealth Report's latest edition highlights several key trends across different regions and demographics. It notes that adults in North America were the wealthiest on average, followed by those in Oceania and Western Europe. Despite these figures, more than half of the markets studied saw declines in average wealth per adult when adjusted for real terms.
Switzerland maintained its position as having the highest average wealth per adult at a market level, with Denmark, South Korea, Sweden, Ireland, Poland, and Croatia recording significant increases in local currency terms. The number of USD millionaires increased by 1.2% last year, adding over 684,000 new individuals to this group globally—over half of them from the United States alone.
The report also sheds light on "Everyday Millionaires" or EMILLIs—those with investable assets between USD 1–5 million—whose numbers have quadrupled since 2000 to approximately 52 million worldwide by the end of last year.
Additionally, asset allocation trends show generational differences in wealth distribution within the US. Millennials tend to invest heavily in consumer durables and private businesses compared to Baby Boomers who hold substantial net wealth.
The report anticipates that over USD 83 trillion will be transferred across generations globally over the next two decades—a large portion expected within the US.
Iqbal Khan from UBS Global Wealth Management commented on these findings: “In an era marked by rapid economic shifts...understanding the trends...is more crucial than ever.” Robert Karofsky added: “With global wealth expected to continue to grow...UBS is uniquely positioned...” Paul Donovan highlighted: “Wealth is not just an economic measure – it’s a social and political force...”
This annual report serves as a critical resource for understanding personal wealth trends worldwide.